Markets
WW

Consumer Sector Update for 08/04/2017: ABTL,WTW,NGVC

Top Consumer Stocks

WMT -0.41%

MCD -0.45%

DIS -1.45%

CVS -0.61%

KO -0.25%

Consumer stocks have turned mixed in recent trade, with shares of consumer staples companies in the S&P 500 dropping almost 0.3% while shares of consumer discretionary firms in the S&P 500 were up nearly 0.1%.

In company news, Autobytel ( ABTL ) sputtered and ran out of gas on Friday, with shares of the vehicle marketing services company falling below $7 each for the first time since October 2013 - today reaching a session low of $6.63 a share - after slashing its FY17 financial outlook below Wall Street expectations.

Excluding one-time items, the company is now projecting FY17 per-share earnings in a range of $0.78 to $0.82, down from its prior view expecting net income between $1.24 to $1.28 per share and trialing the Capital IQ consensus looking for a $1.24 per share profit this year.

It also cut its revenue forecast by $12 million from prior guidance to a new span of $144 million to $148 million. Analysts, on average, have been expecting $156.1 million in revenue for the company during FY17.

Non-GAAP Q2 net income slipped to $0.19 per share from $0.23 per share last year but matching the Capital IQ consensus for the April-to-June period. Revenue was little changed from last year at $34.6 million, also largely in-line with the $34.3 million consensus.

In other sector news,

(+) WTW, (+23.1%) Q2 EPS of $0.67 rolls past three-analyst mean expecting just $0.16 per share. Revenue rises 10.2% to $341.7, also exceeding the $329.55 consensus. Increases projected FY17 EPS to a range of $1.57 to $1.67 a share, topping Street view by at least $0.23 per share.

(-) NGVC, (-33.8%) Adjusted Fiscal Q3 EPS of $0.03 misses consensus call by $0.08 per share. Net sales climbs 8.6% to $194.7 mln, narrowly lagging the $196.3 mln analyst mean.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

WW NGVC

Other Topics

Commodities